Apple Reports Second Quarter Results • Hacker News Board

Re: Apple Reports Second Quarter Results

#11

Post by jonknee » Thu, Apr 30, 2020, 9:08 PM UTC

qwerty2020 wrote: post #8

vasco wrote: post #3

When people ask why the stock market isn't in the dumps when it feels like the whole economy is stopped, this is why. Small business isn't on the S&P, and out of the businesses in it, a large percentage of the market value is concentrated on the tech giants who aren't getting nearly as affected by the current crisis as everyone else. If they don't actually benefit from it. Still super impressive results.

Effects were also only included in ~2-3 weeks of Q1 earnings.

Keep in mind they have a significant presence in Asia, they felt this for nearly the entire quarter.

Plus like Facebook, it's not all straight down. Tim Cook:

> “We’ve seen a further change in the last part of March and first part of April were very depressed and then we’ve seen a pick up relative to that period of time in the second half of April"

They also announced $50b more in buybacks. Apple is confident in a way that most businesses are not.

Re: Apple Reports Second Quarter Results

#12

Post by toasterlovin » Thu, Apr 30, 2020, 9:09 PM UTC

user5994461 wrote: post #10

Bear in mind that the quarter is before the lockdown. >>> Apple today announced financial results for its fiscal 2020 second quarter ended March 28, 2020.

China is one of Apple's largest markets, though, and they were dealing with Coronavirus for the entire quarter.

Re: Apple Reports Second Quarter Results

#13

Post by jonknee » Thu, Apr 30, 2020, 9:13 PM UTC

kgwgk wrote: post #9

vasco wrote: post #3

When people ask why the stock market isn't in the dumps when it feels like the whole economy is stopped, this is why. Small business isn't on the S&P, and out of the businesses in it, a large percentage of the market value is concentrated on the tech giants who aren't getting nearly as affected by the current crisis as everyone else. If they don't actually benefit from it. Still super impressive results.

The current crisis doesn’t overlap much with the first quarter.

It sure does when you build almost all your products in China.

Re: Apple Reports Second Quarter Results

#14

Post by heimatau » Thu, Apr 30, 2020, 9:15 PM UTC

vasco wrote: post #3

When people ask why the stock market isn't in the dumps when it feels like the whole economy is stopped, this is why. Small business isn't on the S&P, and out of the businesses in it, a large percentage of the market value is concentrated on the tech giants who aren't getting nearly as affected by the current crisis as everyone else. If they don't actually benefit from it. Still super impressive results.

This is not true. The mega-wealthy aren't needing to sell their assets because the Fed is doing unlimited QE. Since the mega-wealthy own most stocks, they don't need the liquidity when their "stable" investments are backed by the Federal Reserve's unlimited free money program. This is crony capitalism.

Re: Apple Reports Second Quarter Results

#15

Post by jonknee » Thu, Apr 30, 2020, 9:16 PM UTC

heimatau wrote: post #14

vasco wrote: post #3

When people ask why the stock market isn't in the dumps when it feels like the whole economy is stopped, this is why. Small business isn't on the S&P, and out of the businesses in it, a large percentage of the market value is concentrated on the tech giants who aren't getting nearly as affected by the current crisis as everyone else. If they don't actually benefit from it. Still super impressive results.

This is not true. The mega-wealthy aren't needing to sell their assets because the Fed is doing unlimited QE. Since the mega-wealthy own most stocks, they don't need the liquidity when their "stable" investments are backed by the Federal Reserve's unlimited free money program. This is crony capitalism.

... The Fed hasn't bought a single share of stock.

Re: Apple Reports Second Quarter Results

#16

Post by shakermakr » Thu, Apr 30, 2020, 9:20 PM UTC

Surprised why so many people are surprised. Digital services and platforms are booming in this current climate. We have no choice but to be consuming content.

App downloads (30% thank you very much), Apple TV+ ($10 a month thank you very much), Apple Music...the list goes on. That list, apart from TV+ specials, is just revenue on the backs of other work. Others taking advantage of lockdown to product more content. Which makes these companies more and more without lifting a finger. And the Apple TV specials are short change. Just drive growth.

Microsoft, Amazon, Netflix, remote tools like Mural and Zoom, all these digital platforms offering consumer and business services are king right now. Ad supported services are booming, the Facebooks, Googles, because we’re consuming more ads.

It’s the cash cow of the 2010s and 2020s. Corona is only accelerating that.

Re: Apple Reports Second Quarter Results

#17

Post by majormajor » Thu, Apr 30, 2020, 9:21 PM UTC

heimatau wrote: post #14

vasco wrote: post #3

When people ask why the stock market isn't in the dumps when it feels like the whole economy is stopped, this is why. Small business isn't on the S&P, and out of the businesses in it, a large percentage of the market value is concentrated on the tech giants who aren't getting nearly as affected by the current crisis as everyone else. If they don't actually benefit from it. Still super impressive results.

This is not true. The mega-wealthy aren't needing to sell their assets because the Fed is doing unlimited QE. Since the mega-wealthy own most stocks, they don't need the liquidity when their "stable" investments are backed by the Federal Reserve's unlimited free money program. This is crony capitalism.

Wouldn't the mega-wealthy be the ones who'd be least likely to need to sell anyway? Versus people with investments that they want to liquidate for a buffer after losing a job, or retirement?

Re: Apple Reports Second Quarter Results

#18

Post by kgwgk » Thu, Apr 30, 2020, 9:22 PM UTC

jonknee wrote: post #13

kgwgk wrote: post #9

Earlier quoted context omitted.

The current crisis doesn’t overlap much with the first quarter.

It sure does when you build almost all your products in China.

Did they have a shortage of products to sell? I think the impact of not selling in China may have been more important than the impact of not producing in China last quarter. And in any case the second quarter will probably be worse.

Re: Apple Reports Second Quarter Results

#19

Post by mrscottson » Thu, Apr 30, 2020, 9:23 PM UTC

jonknee wrote: post #15

heimatau wrote: post #14

Earlier quoted context omitted.

This is not true. The mega-wealthy aren't needing to sell their assets because the Fed is doing unlimited QE. Since the mega-wealthy own most stocks, they don't need the liquidity when their "stable" investments are backed by the Federal Reserve's unlimited free money program. This is crony capitalism.

... The Fed hasn't bought a single share of stock.

The Fed is artificially keeping interest rates low allowing idiotic stock buybacks to continue for almost no cost, keeps the cost of investor speculation cheap and they are bailing out companies that have bad non-performing loans (banks included)...

The Fed's "Rube Goldberg activity" holds up the stock market...uuuuntil it doesn't.

Source: My black swan farm

Re: Apple Reports Second Quarter Results

#20

Post by toast0 » Thu, Apr 30, 2020, 9:24 PM UTC

shakermakr wrote: post #16

Surprised why so many people are surprised. Digital services and platforms are booming in this current climate. We have no choice but to be consuming content. App downloads (30% thank you very much), Apple TV+ ($10 a month thank you very much), Apple Music...the list goes on. That list, apart from TV+ specials, is just revenue on the backs of other work. Others taking advantage of lockdown to product more content. Wh…

Consuming more ads only helps ad-servers when there are enough ads to serve. A lot of big advertising categories (travel, cars, restaurants) are having a tough time and will likely cut their ad spending.